Market Insights and Analysis: Global Licorice Extract Market Overview and Projections (2023-2028)
The Global Licorice Extract Market size is valued at around USD 2.12 billion in 2022 & is estimated to grow at a CAGR of about 5.2% during the forecast period, i.e., 2023-28. The market is poised to grow owing to the rising health concerns & prevalence of diseases like diabetes, celiac disease, and several other chronic ailments among the population across the globe.
Top leading companies in the Global Licorice Extract Market includes:
Alfarid Corporation Limited, AOS Products Pvt. Ltd., Avestia Pharma, C.E. Roeper GmbH, F&C Licorice Ltd., Herbochem, Hyundai Bioland, Mafco Worldwide LLC, Maruzen Pharmaceuticals Co. Ltd., Norevo GmbH, Shaanxi FUJIE Pharmaceutical Co. Ltd., VPL Chemicals Pvt Ltd. , Beijing Gingko Group , Glycyrrhiza Glabra Co. Ltd., Ransom Naturals Ltd., Others.
Global Licorice Extract Market Trend:
Soaring Demand for Clean-Label & Organic Products to be a Key Trend in the Licorice Extract Market – The lifestyle of the population is evolving constantly across the world, leading to the surge in the adoption of healthy food & beverages, like clean-label products or natural products are anticipated to be one of the emerging trends in the Licorice Extract Market. Nowadays, most consumers are purchasing appropriate or complimentary products to enhance their way of living or lifestyle, which is also contributing to elevating the demand for licorice extracts.
Furthermore, various companies are bending towards natural or organic ingredients to foster innovation in products, such as foods, beverages, pharmaceuticals, cosmetics, etc., due to the detrimental effects of synthetic extracts. Consequently, it could be stated that the organic clean-label market for licorice extract would create lucrative opportunities in the future years as well.
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Report Segmentation:
The market is categorized into the following segments in the report:
By Product Type
-Food Grade- Market Size & Forecast 2018-2028, USD Million
-Feed Grade- Market Size & Forecast 2018-2028, USD Million
-Pharmaceutical Grade- Market Size & Forecast 2018-2028, USD Million
By Form
-Powder- Market Size & Forecast 2018-2028, USD Million
-Liquid- Market Size & Forecast 2018-2028, USD Million
-Block- Market Size & Forecast 2018-2028, USD Million
By End Users
-Food & Beverages- Market Size & Forecast 2018-2028, USD Million
-Pharmaceutical- Market Size & Forecast 2018-2028, USD Million
-Tobacco- Market Size & Forecast 2018-2028, USD Million
-Others- Market Size & Forecast 2018-2028, USD Million.
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Global Licorice Extract Market Geographic Reach:
The Geographic Reach of the Global Licorice Extract Market evaluates the spread and significance of Global Licorice Extract market consumption across different regions/country, emphasizing areas with the largest market size and the most promising growth potential.
· North America: US, Canada, Mexico
· Europe: Germany, The UK, France, Spain, Italy, Rest of Europe
· Asia-Pacific: China, India, Japan, South Korea, Australia, Rest of Asia-Pacific
· South America: Brazil, Argentina, Rest of South America
· Middle East & Africa: UAE, Saudi Arabia, South Africa, Rest of MEA.
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